The company's revenue growth has accelerated to 12.0% year-over-year in 2027Q2, while gross margins have steadily improved from 66.6% in 2025Q1 to 72.9%, indicating effective pricing power.
Cognyte Software Ltd. (CGNT) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Dec'17 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 | Mar'98 | Mar'97 | Mar'96 | Mar'95 |
|---|
| Sales/Revenue | 421.71M | 400.04M | 350.63M | 313.4M | 312.06M | 474.04M | 443.46M | 457.11M | 433.46M | 56.32M | 26.53M | 17.11M | 15.29M | 16.69M | 10.9M | 10.81M | 12.83M | 9.95M | 9.49M | 11.15M | 10.33M | 9.93M | 6.43M | 6.71M | 7.21M | 7.05M | 7.5M | 8M | 8.3M | 6.2M | 7.7M |
| Revenue Growth % | 11.99% | 14.09% | 11.88% | 0.43% | -34.17% | 6.9% | -2.99% | 5.46% | 669.69% | 112.3% | 55.05% | 11.91% | -8.38% | 53.1% | 0.82% | -15.76% | 28.98% | 4.87% | -14.92% | 7.98% | 4.02% | 54.4% | -4.22% | -6.88% | 2.18% | -5.93% | -6.25% | -3.61% | 33.87% | -19.48% | 13.24% |
| Cost of Goods Sold | 114.21M | 110.75M | 103.71M | 98M | 119.94M | 132.4M | 132.67M | 164M | 176.77M | 18.87M | 3.13M | 12.61M | 10.95M | 11.6M | 7.98M | 9.8M | 10.46M | 8.56M | 7.53M | 8.51M | 7.38M | 6.16M | 4.76M | 4.49M | 4.4M | 4.5M | 5.8M | 6.1M | 7.1M | 6.6M | 7.2M |
| COGS % of Revenue | - | 27.68% | 29.58% | 31.27% | 38.43% | 27.93% | 29.92% | 35.88% | 40.78% | 33.51% | 11.78% | 73.71% | 71.6% | 69.53% | 73.21% | 90.64% | 81.48% | 85.99% | 79.42% | 76.36% | 71.49% | 62.01% | 74.07% | 66.89% | 61.06% | 63.81% | 77.33% | 76.25% | 85.54% | 106.45% | 93.51% |
| Gross Profit | 307.5M | 289.3M | 246.92M | 215.4M | 192.13M | 341.64M | 310.79M | 293.1M | 256.69M | 37.44M | 23.4M | 4.5M | 4.34M | 5.08M | 2.92M | 1.01M | 2.38M | 1.39M | 1.95M | 2.64M | 2.94M | 3.77M | 1.67M | 2.22M | 2.81M | 2.55M | 1.7M | 1.9M | 1.2M | -400K | 500K |
| Gross Margin % | 72.92% | 72.32% | 70.42% | 68.73% | 61.57% | 72.07% | 70.08% | 64.12% | 59.22% | 66.49% | 88.22% | 26.29% | 28.4% | 30.47% | 26.79% | 9.36% | 18.52% | 14.01% | 20.57% | 23.64% | 28.51% | 37.99% | 25.93% | 33.11% | 38.95% | 36.19% | 22.67% | 23.75% | 14.46% | -6.45% | 6.49% |
| Gross Profit Growth % | - | 17.16% | 14.63% | 12.12% | -43.76% | 9.93% | 6.03% | 14.19% | 585.53% | 60.01% | 420.25% | 3.59% | -14.61% | 74.14% | 188.54% | -57.43% | 70.55% | -28.56% | -25.99% | -10.44% | -21.95% | 126.21% | -24.98% | -20.86% | 9.99% | 50.18% | -10.53% | 58.33% | 400% | -180% | 400% |
| Operating Expenses | 288.7M | 285.94M | 252.05M | 233.46M | 295.45M | 330.68M | 292.51M | 265.79M | 238M | 38.33M | 31.05M | 11.94M | 12.82M | 15.2M | 14.28M | 13.78M | 15.2M | 13.71M | 7.55M | 6.86M | 5.5M | 7.57M | 3.43M | 3.4M | 3.73M | 4.11M | 3.6M | 4.9M | 7.7M | 9.4M | 8.9M |
| OpEx % of Revenue | - | 71.48% | 71.88% | 74.49% | 94.68% | 69.76% | 65.96% | 58.15% | 54.91% | 68.07% | 117.05% | 69.8% | 83.86% | 91.09% | 131.04% | 127.45% | 118.42% | 137.84% | 79.62% | 61.55% | 53.28% | 76.21% | 53.28% | 50.69% | 51.78% | 58.31% | 48% | 61.25% | 92.77% | 151.61% | 115.58% |
| Selling, General & Admin | 162.01M | 158.43M | 143.52M | 125.78M | 154.35M | 185.87M | 162.59M | 153.9M | 137.34M | 8.29M | 7.96M | 9.84M | 11M | 12.04M | 10.77M | 10.49M | 10.23M | 8.18M | 5.18M | 4.14M | 3.9M | 3.48M | 3.12M | 3.09M | 2.99M | 3.14M | 3M | 3.6M | 4.9M | 6.4M | 6.4M |
| SG&A % of Revenue | - | 39.6% | 40.93% | 40.13% | 49.46% | 39.21% | 36.66% | 33.67% | 31.69% | 14.73% | 29.99% | 57.52% | 71.95% | 72.19% | 98.83% | 97.04% | 79.69% | 82.19% | 54.64% | 37.1% | 37.74% | 35.04% | 48.45% | 46.09% | 41.48% | 44.49% | 40% | 45% | 59.04% | 103.23% | 83.12% |
| Research & Development | 126.78M | 127.51M | 108.27M | 107.28M | 140.32M | 143.36M | 128.71M | 111.3M | 100.01M | 4.74M | 2.85M | 2.1M | 1.82M | 3.15M | 3.51M | 3.29M | 4.83M | 3.44M | 2.37M | 2.23M | 1.42M | 688.63K | 426.21K | 215.65K | 743.17K | 684.21K | 200K | 800K | 2.3M | 2.4M | 2.2M |
| R&D % of Revenue | - | 31.87% | 30.88% | 34.23% | 44.97% | 30.24% | 29.02% | 24.35% | 23.07% | 8.42% | 10.75% | 12.28% | 11.91% | 18.91% | 32.21% | 30.41% | 37.65% | 34.59% | 25% | 19.98% | 13.77% | 6.94% | 6.63% | 3.21% | 10.31% | 9.7% | 2.67% | 10% | 27.71% | 38.71% | 28.57% |
| Other Operating Expenses | 1.43M | 0 | 258K | 391K | 779K | 1.46M | 1.22M | 593K | 651K | 25.3M | 20.24M | 0 | 0 | 0 | 0 | 0 | 140K | -11.61M | -7.52M | -6.36M | -5.31B | -4.16M | -3.54M | -3.31M | 0 | 290.95K | 400K | 500K | 500K | 600K | 300K |
| Operating Income | 18.8M | 2.12M | -5.13M | -18.05M | -103.32M | 10.96M | 18.28M | 27.31M | 18.69M | 1.5B | -7.65M | -7.44M | -8.48M | -10.12M | -11.36M | -12.42M | -12.72M | -10.88M | -5.6M | -4.23M | -2.56M | -3.79M | -1.76M | -1.18M | -925K | -1.56M | -1.9M | -3M | -6.5M | -9.8M | -8.4M |
| Operating Margin % | 4.46% | 0.53% | -1.46% | -5.76% | -33.11% | 2.31% | 4.12% | 5.98% | 4.31% | 2664.02% | -28.83% | -43.51% | -55.45% | -60.62% | -104.25% | -114.93% | -99.13% | -109.4% | -59.06% | -37.91% | -24.77% | -38.21% | -27.36% | -17.59% | -12.83% | -22.13% | -25.33% | -37.5% | -78.31% | -158.06% | -109.09% |
| Operating Income Growth % | - | 141.3% | 71.61% | 82.53% | -1042.64% | -40.03% | -33.09% | 46.14% | -98.75% | 19719.05% | -2.73% | 12.19% | 16.19% | 10.98% | 8.55% | 2.34% | -16.88% | -94.27% | -32.56% | -65.24% | 32.57% | -115.67% | -48.93% | -27.68% | 40.74% | 17.84% | 36.67% | 53.85% | 33.67% | -16.67% | 3.45% |
| EBITDA | 27.89M | 14.09M | 8.53M | -4.24M | -85.27M | 32.24M | 40.8M | 44.64M | 39.71M | 1.5B | -7.37M | -6.75M | -7.68M | -9.28M | -10.62M | -11.77M | -12.25M | -10.63M | -5.11M | -3.77M | -2.24M | -3.59M | -1.52M | -960.98K | -677.34K | -1.27M | -1.5M | -2.5M | -6M | -9.2M | -8.1M |
| EBITDA Margin % | 6.61% | 3.52% | 2.43% | -1.35% | -27.33% | 6.8% | 9.2% | 9.77% | 9.16% | 2669.64% | -27.78% | -39.45% | -50.25% | -55.63% | -97.39% | -108.89% | -95.46% | -106.84% | -53.89% | -33.82% | -21.69% | -36.15% | -23.64% | -14.31% | -9.4% | -18% | -20% | -31.25% | -72.29% | -148.39% | -105.19% |
| EBITDA Growth % | 77.22% | 65.31% | 301.18% | 95.03% | -364.5% | -20.97% | -8.61% | 12.41% | -97.36% | 20504.8% | -9.17% | 12.15% | 17.25% | 12.55% | 9.82% | 3.92% | -15.25% | -107.92% | -35.58% | -68.36% | 37.59% | -136.08% | -58.2% | -41.88% | 46.67% | 15.33% | 40% | 58.33% | 34.78% | -13.58% | 4.71% |
| D&A (Non-Cash Add-back) | 9.09M | 11.98M | 13.65M | 13.82M | 18.05M | 21.28M | 22.52M | 17.32M | 21.02M | 3.17M | 278.95K | 695K | 795K | 832K | 747K | 653K | 471K | 254.79K | 490.26K | 455.78K | 318.2K | 204.61K | 238.74K | 220.06K | 247.66K | 290.95K | 400K | 500K | 500K | 600K | 300K |
| EBIT | 17.3M | 2.12M | -4.27M | -13.24M | -95.4M | 8.46M | 24.91M | 30.42M | 20.44M | 1.5B | -7.64M | -7.51M | -10.04M | -10.53M | -11.5M | -12.79M | -7.39M | -9.33M | 20.63M | -4.03M | -2.5M | -3.79M | -1.74M | -1.17M | 0 | 0 | 0 | 0 | 0 | 0 | -8.4M |
| Net Interest Income | 1.71M | 1.84M | 2.37M | 1.88M | -823K | -19K | 1.16M | 3.03M | 2.67M | 245.65M | 511 | -188K | -494K | -481K | -329K | -8K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.86M | 2.03M | 2.47M | 1.9M | 774K | 177K | 1.35M | 3.51M | 3.17M | 245.68M | 1K | 4K | 9K | 8K | 4K | 4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 153K | 194K | 100K | 16K | 1.6M | 196K | 185K | 481K | 499K | 29.03K | 489 | 192K | 503K | 489K | 333K | 12K | 16K | 9.06M | 1.42M | 3.16M | 4.97M | 0 | 724K | 6.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -5.93M | 9.22M | 756K | 4.79M | 6.33M | -2.7M | 6.45M | 2.62M | 1.25M | -1.5B | 3.69K | -258K | -2.07M | -900K | -472K | -382K | 5.32M | 1.54M | 26.23M | 53K | 53K | 45.38K | 14.96K | 1.41M | -221K | -3.33M | -200K | 300K | 300K | 300K | 0 |
| Pretax Income | 12.88M | 11.34M | -4.37M | -13.26M | -97M | 8.26M | 24.72M | 29.94M | 19.94M | -617K | -7.64M | -7.7M | -10.54M | -11.02M | -11.83M | -12.81M | -7.4M | -9.34M | 20.63M | -4.04M | -2.51M | -3.75M | -1.74M | -1.18M | -1.15M | -4.89M | -2.1M | -2.7M | -6.2M | -9.5M | 0 |
| Pretax Margin % | 3.05% | 2.84% | -1.25% | -4.23% | -31.08% | 1.74% | 5.58% | 6.55% | 4.6% | -1.1% | -28.82% | -45.02% | -68.98% | -66.01% | -108.58% | -118.46% | -57.69% | -93.9% | 217.47% | -36.19% | -24.26% | -37.76% | -27.12% | -17.57% | -15.9% | -69.27% | -28% | -33.75% | -74.7% | -153.23% | - |
| Income Tax | 8.03M | 6.73M | 2.86M | -1.61M | 12.96M | 18.52M | 4.41M | 2.57M | 7.62M | 137.12K | 65.51K | 12K | 12K | 1K | 9K | -382K | 21K | 1.55M | 26.24M | 194.25K | 57.63K | 0 | -1.74M | -1.18M | -221K | -3.33M | 0 | 300K | 0 | 300K | 0 |
| Effective Tax Rate % | 62.35% | 59.33% | -65.54% | 12.17% | -13.36% | 224.15% | 17.85% | 8.57% | 38.21% | -22.22% | -0.86% | -0.16% | -0.11% | -0.01% | -0.08% | 2.98% | -0.28% | -16.61% | 127.17% | -4.81% | -2.3% | 0% | 100% | 100% | 19.28% | 68.06% | 0% | -11.11% | 0% | -3.16% | - |
| Net Income | -59K | -638K | -12.05M | -15.57M | -114.13M | -14.89M | 14.2M | 20.19M | 8.73M | -883K | -7.71M | -7.71M | -10.56M | -11.02M | -11.84M | -12.42M | -8.22M | -9.34M | 20.63M | -4.04M | -2.51M | -3.75M | 0 | 0 | -1.29M | -4.78M | -2.1M | -2.6M | -6.2M | -9.4M | -8.4M |
| Net Margin % | -0.01% | -0.16% | -3.44% | -4.97% | -36.57% | -3.14% | 3.2% | 4.42% | 2.01% | -1.57% | -29.06% | -45.09% | -69.06% | -66.02% | -108.66% | -114.93% | -64.09% | -93.9% | 217.47% | -36.19% | -24.26% | -37.76% | - | - | -17.91% | -67.73% | -28% | -32.5% | -74.7% | -151.61% | -109.09% |
| Net Income Growth % | 98.69% | 94.71% | 22.6% | 86.36% | -666.5% | -204.84% | -29.66% | 131.34% | 1088.45% | 88.55% | 0.06% | 26.93% | 4.17% | 6.98% | 4.68% | -51.05% | 11.96% | -145.28% | 611.24% | -61.08% | 33.16% | - | - | 100% | 72.98% | -127.52% | 19.23% | 58.06% | 34.04% | -11.9% | -6.33% |
| Net Income (Continuing) | 4.85M | 4.61M | -7.23M | -11.64M | -109.95M | -10.26M | 20.31M | 27.37M | 12.32M | -883K | -7.71M | -7.71M | -10.56M | -11.02M | -11.84M | -12.42M | -8.22M | -9.34M | 20.63M | -4.04M | -2.51M | -3.75M | 0 | 0 | -1.29M | -4.78M | -2.1M | -2.6M | -6.2M | -9.4M | -8.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 24.16M | 22.32M | 18.91M | 16.86M | 15.64M | 13.95M | 12.87M | 10.63M | 7.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.00 | -0.01 | -0.17 | -0.22 | -1.68 | -0.22 | 0.22 | 0.31 | 0.13 | -0.01 | -0.15 | -0.17 | -0.23 | -0.24 | -0.31 | -0.34 | -0.24 | -0.26 | 1.17 | -0.23 | -0.14 | -0.21 | 0.00 | 0.00 | -0.29 | -1.19 | -0.57 | -0.85 | -2.30 | -4.20 | -4.15 |
| EPS Growth % | 96.2% | 94.88% | 22.73% | 86.9% | -663.64% | -200% | -29.03% | 138.46% | 984.35% | 90.2% | 11.76% | 26.09% | 4.17% | 22.58% | 8.82% | -41.67% | 7.69% | -122.22% | 608.7% | -64.29% | 33.33% | - | - | 100% | 75.63% | -108.77% | 32.94% | 63.04% | 45.24% | -1.2% | -5.06% |
| EPS (Basic) | - | -0.01 | -0.17 | -0.22 | -1.68 | -0.22 | 0.22 | 0.31 | 0.13 | -0.01 | -0.30 | -0.30 | -0.41 | -0.43 | -0.31 | -0.34 | -0.24 | -0.26 | 0.59 | -0.12 | -0.08 | -0.12 | 0.00 | 0.00 | -0.29 | -1.20 | -0.58 | -0.85 | -2.30 | -4.20 | -4.15 |
| Diluted Shares Outstanding | 73.06M | 72.91M | 71.8M | 70.08M | 67.92M | 66.57M | 65.77M | 65.4M | 65.77M | 59.98M | 52.98M | 46.16M | 45.95M | 45.68M | 38.32M | 36.85M | 36.66M | 35.29M | 31.24M | 31.24M | 31.24M | 31.24M | 27.19M | 26.99M | 4.47M | 4M | 3.67M | 3.04M | 2.69M | 2.24M | 2.02M |
| Basic Shares Outstanding | 73.06M | 72.91M | 71.8M | 70.08M | 67.92M | 66.57M | 65.77M | 65.4M | 65.4M | 59.98M | 25.51M | 25.51M | 25.51M | 25.51M | 38.32M | 36.85M | 34.27M | 35.29M | 35.17M | 35.1M | 31.45M | 30.21M | 27.19M | 26.99M | 4.47M | 3.99M | 3.65M | 3.04M | 2.69M | 2.24M | 2.02M |
| Dividend Payout Ratio | - | - | - | - | - | - | 29.4% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CGNT stock.
For fiscal year 2026, Cognyte Software Ltd. (CGNT) reported total revenue of $400.0M. This represents a 5095.3% increase compared to $7.7M in 1995.
Cognyte Software Ltd. (CGNT) reported a net loss of $0.6M for the fiscal year ending 2026.
Cognyte Software Ltd. (CGNT) reported an operating income of $2.1M, resulting in an operating profit margin of 0.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Cognyte Software Ltd. (CGNT) generated $289.3M in gross profit for the year, representing a gross profit margin of 72.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Net income volatility and thin margins
Accelerating Revenue Growth Momentum
According to the reported quarterly data, Cognyte's revenue growth has accelerated from 9.6% year-over-year in 2025Q2 to 12.0% in 2027Q2, indicating strengthening demand for its security analytics software.
This consistent acceleration across eight consecutive quarters suggests the company is successfully capturing market share or benefiting from a favorable spending cycle in its niche. The growth appears to be organic and durable, as it has maintained double-digit expansion while improving profitability, which may indicate a product-market fit that is maturing.
Gross Margin Expansion and Pricing Power
As reported in the financial statements, Cognyte's gross margin has steadily improved from 66.6% in 2025Q1 to 72.9% in 2027Q2, suggesting effective pricing and cost management relative to peers.
This expansion of over 600 basis points in two years signals strong pricing power and/or a favorable product mix shift, positioning the company favorably against peers like NICE (66.4%) and Spok (78.8%). However, the current margin level remains below some high-growth peers like Varonis (79.1%), indicating there may be room for further improvement as scale increases.
Positive Operating Leverage Emerging
Based on EDBL's reported figures, operating income turned positive in 2025Q4 and expanded to $4.7M in 2027Q2, demonstrating that revenue growth is translating into profitability as fixed costs are absorbed.
The improvement in operating margin from -2.8% to 4.3% over ten quarters indicates meaningful operating leverage, as SG&A and R&D costs have grown at a slower pace than revenue. This suggests management has maintained expense discipline while scaling, a critical milestone for a company transitioning from losses to sustainable profitability.
Net Income Volatility from Non-Operating Items
The company's reported net income has swung between losses and gains across quarters, with 2027Q1 showing a $3.0M loss despite positive operating income, indicating significant non-operating influences on the bottom line.
This volatility appears to stem from non-operating items, possibly including tax adjustments, interest, or foreign exchange, which obscure the underlying operational trend. Investors should focus on operating income as a more reliable indicator of core business performance, as the net margin has been erratic, ranging from -6.2% to 3.8% in recent periods.
R&D Intensity Constraining Near-Term Margins
As reported in financial statements, R&D expenses consistently represent approximately 30% of revenue, a significant investment that supports product development but currently limits operating margin expansion.
The high R&D intensity, alongside substantial SG&A spending, reflects the company's focus on innovation and market penetration in a competitive software infrastructure landscape. While necessary for long-term growth, this cost structure results in operating margins well below mature peers like NICE (21.9%), suggesting profitability will remain constrained until growth fully leverages this fixed cost base.
Sustainability of Margin Expansion in Question
The strongest challenge to the income statement narrative is whether gross margin expansion from 71.5% to 72.9% over two years can continue, especially as revenue growth moderates from its peak rates.
Recent quarters show revenue growth decelerating from a high of 15.5% to 12.0%, which could pressure pricing power and reduce the ability to spread fixed costs. Furthermore, the operating margin remains thin at 4.3%, leaving little buffer for any unexpected cost increases or a slowdown in demand, which could quickly erode profitability.